ASG hikes stainless steel prices for Feb to reflect higher production costs
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Update time : 2023-01-31 19:45:39
Asian Steel Corp. (ASG), a leading stainless steel mill in China and Taiwan, announced price hikes for February, with an increase higher than the market expected.
Among them, the domestic price of 304 cold-rolled and hot-rolled was increased by NT$2,500/ton, that of 430 cold-rolled and hot-rolled was hiked by NT$1,500/ton, and the surcharge of 316L was raised by NT$5,000/ton.
In terms of export prices, the price of 304 was up by US$100/ton, 430 was hiked by US$50/ton, and the surcharge of 316L was raised by US$170/ton.
ASG said that stainless steel production costs have been being pushed upward by increasing international raw material prices, such as nickel, chromium, and stainless steel scrap, especially ferromolybdenum has the largest price increase.
Besides, due to the production reduction or annual maintenance of steel mills in some regions, the future supply will be further tightened. Coupled with optimistic demand from end users, the market purchasing willingness was expected to be stronger. Therefore, ASG made a decision to raise its stainless steel prices.
